Today while picking up a 2009 ASE bullion coin, I noticed a 1851 2.50 dollar gold coin in the dealers display cabinet. He has it listed as xf/au and is asking $250.00 for this coin. Knowing nothing at all about buying gold coins and reading about the numerous fakes out there, I was curious if this was a good price for this coin? If it is and I can convince my better half that it would be a good investment, I may go back and get it, but under a caveat that it will be sent out to PCGS for grading and if it comes back body bagged as a fake or under the grade of at least xf(????) then I want a guarantee that he will purchase it back, to include the cost of grading fees plus shipping costs What are your opinions on this? Thanks Dave
The price would be fine depending on how it looks but the years not right. The $2.50 gold Indian coin was only minted for 13 years from 1908 thru 1929. Somethings not right, so it may be better to go elsewhere. good luck with your stipulations to buy. :high5:
I didn't see where he said it is an Indian head? In 1851 there was a Cal. $2.50 made. In fact 1,372,748 Cal. Gold quarter eagles were minted in 1851. If the coin says Cal. on the reverse under the word STATES I would be interested. And yes good luck getting the dealer to agree to those terms.
You're absolutely right! I don't know where I picked that up at, I just didn't know there was any other $2.50 gold coin. :hail: Now back to answering his question. Unless that dealer is a friend of yours he may get offended and give you the boot. Of course I don't think you would think of your caveat unless you thought you could pull it off. go for what you know. Use the Nike motto, just do it!!
In all reality if this coin is really an authentic California gold $2.50 then I would investigate the matter further. Maybe ask if you can take it for examination by a third party. Or put a refundable deposit on it. Or ask/pay a consultant to go to the shop. Or just forget it, attend a coin show and pick up a slabbed one.
Caveat emptor. Either you learn how to grade the coin and determine its authenticity on your own or you rely on the dealers expertise. You cant have it both ways. There are hundreds of threads on here about how people just throw down hard earned money without having a clue about what they are buying. If you want to buy pre civil war gold, buy the book, learn how to grade and read up on how to detect a fake. Arm yourself with knowledege. Personally, I only purchase certified pre civil war gold for authenticity reasons. If you buy it and submit it ..but take responsibilty for the purchase and your lack of experience with this coin series. Ofcourse, if its fake, I'd take it back to show the dealer but to make him promise to take it back and compensate you for the slabbing fee is unreasonable and offensive in my opinion.
Thanks all for the replies. That is why I asked to see what you would all think and really appreciate your honesty in your answers. Also I guess I should have stated it was a 1851 Quarter Eagle. Thanks again for the honest replies Dave
